One is in life insurance, namely Life Insurance Corp., and four are in non-life insurance and one in reinsurance. New Delhi: The Insurance Regulatory and Development Authority of India (Irdai) on Thursday released a discussion paper on listing of Indian insurance firms. The Irdai proposed that insurance firms having completed eight years of operations in case of general and reinsurance, and 10 years of operations in case of life insurance, can go for mandatory public listing. As at July 2016, there were 55 insurance firms operating in India, of which 24 were in the life insurance business and 30 were in non-life insurance business. It said 32 insurance firms in life and general, including specialized insurers and reinsurer firms, have completed 10 years of operations.

Source: Mint August 11, 2016 17:26 UTC